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    817 72Nd St Tacoma, WA 98404

    For Sale
    $4,027,355

    High-yield Planet Fitness investment. Strong tenant, long lease.

    Property size:
    22,450 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a fee-simple ownership of a 22,450-square-foot Planet Fitness located at 817 E 72nd St, Tacoma, WA 98404, within the Seattle MSA. The property sits on a 2.38-acre lot and boasts a strong absolute NNN lease structure, eliminating landlord responsibilities. The current lease commenced March 1, 2024, and extends until February 28, 2034, providing a substantial remaining lease term of approximately 9.3 years. The property features a 6.20% cap rate and a Net Operating Income (NOI) of $249,696. Built in 1957 and renovated in 2016, this single-tenant building enjoys 100% occupancy. The tenant is a franchisee operating over 80 units, demonstrating financial strength and operational expertise. Rent increases are built into the lease, with a 10% bump every five years, ensuring consistent income growth. This is a prime opportunity for investors seeking a secure, high-performing retail asset with a long-term, stable tenant. The property is offered at an asking price of $4,027,355.

    Property Features for 817 72Nd St

    General Information

    Property type
    Retail properties
    Square Feet
    22,450 SF
    Lot Size
    103,673 SF

    Building Details

    Year Built/Renovated
    1957/2016

    HighLights

    • 10+ years remaining on lease term.
    • Absolute NNN lease; no landlord responsibilities.
    • Tenant is a strong franchise with 80+ locations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Planet Fitness Gym

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.41954221595
    Latitude
    47.192022487987

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    FAQs

    What type of property is this?
    Retail property - High-yield Planet Fitness investment. Strong tenant, long lease.
    Where is this retail property located?
    The property is located at 817 72Nd St Tacoma, WA.
    What is the asking price?
    The asking price for this property is $4,027,355.
    What are key features of this property?
    This property features: 10+ years remaining on lease term.; Absolute NNN lease; no landlord responsibilities.; Tenant is a strong franchise with 80+ locations.
    Request Owner's contact information
    817 72Nd St Tacoma, WA 98404
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    817 72Nd St Tacoma, WA 98404
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